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Why Pharma Supply Chain Should Iot (internet Of Things) Consider As Integral Part Of Their System
Now a days, IOT – The Internet Of Things has become an important part of every business as most of the things such as appliances, utility items, products, packs, and vehicles are being connected to the internet and collecting required data to reach at key business decisions to improve business operations. Digital technologies such as GPS location and condition monitoring real-time visibility and security during transport.
Pharmaceuticals manufacturers increasingly dealing with products such as biologics, biosimilar which are highly sensitive Drugs that need to keep in the desired temperature to ensure their effectiveness.
These are sensitive life-saving drugs. These medicines and vaccines have a larger proportion of high-value active ingredients with shorter shelf lives and carry strict storage temperature requirements. If these Drugs are not kept in between 2°C and 8°C it might lose efficacy. These drugs need to be stored at controlled room temperature. Hence these drugs need to be monitor to avoid temperature spikes.
Every year pharmaceutical companies continue to lose millions of revenue due to spoilage of medicines and vaccines from temperature fluctuations and face an even greater threat if the deterioration goes unnoticed, leading to potential health hazards for patients and subsequent regulatory actions. This issue is increasingly critical in the emerging Asian and South American markets, where wide temperature fluctuations occur due to environmental and other factors. The existing cold chain logistics and storage market handles approximately $260 billion worth of pharmaceuticals products.
It is estimated that 20% of these Medicines & Vaccines are wasted during shipping and transportation. To avoid these drugs wastage due to temperature excursions or not stored in a specific desired environment. IoT-based solutions can help pharma logistics remotely monitor cold chain environments in real-time by embedding sensors for 24x7 monitoring and auto-start or shut-down mechanisms in warehouses, vehicles or shipments are track and traced using smart phones and tablets.
Pharma logistics companies must view their IoT investments from the standpoint of fostering innovation, heightening efficiencies, improving processes and operational performance and adding more value for the business, suppliers, and customers. By adhering to IoT best practices and learning from others that have successfully implemented IoT platforms and solutions, pharmaceuticals companies can be better prepared to face the growing demands of today’s hyper-competitive, hyper-connected global economy. Internet of Things is transforming the pharma industry at a rapid pace. IoT has the potential to enhance almost all the processes of the pharma industry ranging from clinical trials, drug disclosure, and supply chain to remote patient monitoring.
When it comes to IoT in the pharma Supply chain, I remember One Company Vhslogitech www[dot)]vhslogitech[dot]com, which has built an IoT, AI & BlockChain oriented Digital Healthcare platform known as Coolgix www[dot]Coolgix[dot]com. This IoT enabled Supply Chain Platform Coolgix is for 24x7 Real-Time Monitoring of Warehouses, Cold Rooms, Deep Freezers, In-Transit Consignments(On-road, Ship, Air-Cargo, Local delivery). Not only Just Temperature or Humidity Tracking from Coldspot or Hot Spot levels but also the mentioned platform enables managing In-ward Stocks, Out-ward stocks, Expiry Stocks & Connecting the IoT to Room, Rack & Individual Box level Tracking. Being available over cloud & Mobile makes it easy & convenient to be always connected with your business process.
Coolgix Is a New Edge Pharma 4.0 Ready Cloud-Based, Mobile-Enabled Supply Chain Management (SCM) System. It is developed to work in a Multi-Location, Multi-Vendor & Multi-User Enterprise Environment to Bring the Effective Supply Chain in terms of Product Traceability, Transparency & Compliance Management point of view. Coolgix is designed to help Pharmaceutical Companies, Distributors, Hospitals & other Stakeholders in connecting Vital Functions, Elevate efficiencies, and assure product quality & compliance. It Digitizes Warehouse/Cold store Management, Logistic/Vehicle, Consignment Tracking & Management Processes. The Cloud BI Analysis is designed to provide a Nearly-Real Time MIS & Quick outlook to the Business Decision Makers.
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